March 31, 2009 |
December 31, 2008 |
||||||||
(Unaudited) | |||||||||
ASSETS | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 11,772 | $ | 9,475 | |||||
Short-term investments | 477 | 1,536 | |||||||
Accounts receivable, less allowance of $453 and $453, respectively | 15,918 | 13,562 | |||||||
Other current assets | 1,042 | 951 | |||||||
Total current assets | 29,209 | 25,524 | |||||||
Property and equipment, net | 4,143 | 3,774 | |||||||
Goodwill | 91,359 | 88,488 | |||||||
Intangible assets, net | 9,765 | 10,235 | |||||||
Indefinitelived intangible assets | 11,581 | 11,589 | |||||||
Other assets | 522 | 1,557 | |||||||
Total assets | $ | 146,579 | $ | 141,167 | |||||
LIABILITIES AND STOCKHOLDERS EQUITY | |||||||||
Current liabilities: | |||||||||
Accounts payable and accrued expenses | 4,361 | 8,245 | |||||||
Accrued payroll and related benefits | 3,380 | 2,709 | |||||||
Short term debt | 24,945 | 24,945 | |||||||
Current portion of convertible debt (Also see Note 14) | 11,518 | 11,518 | |||||||
Current portion of long term debt and capital lease obligations | 325 | 912 | |||||||
Deferred revenue | 6,228 | 5,383 | |||||||
Other current liabilities | 176 | 142 | |||||||
Total current liabilities | 50,933 | 53,854 | |||||||
Convertible debt | 15,000 | 15,000 | |||||||
Other long term debt and capital lease obligation, less current portion | 254 | 290 | |||||||
Other liabilities | 2,611 | 941 | |||||||
Deferred Revenue | 168 | 330 | |||||||
Deferred rent | 574 | 610 | |||||||
Total liabilities | 69,540 | 71,025 | |||||||
Commitments and Contingencies, Note 5 |
|||||||||
Stockholders equity: | |||||||||
Convertible Series D Preferred stock, $.10 par value, 500,000
shares authorized, no shares issued and outstanding |
|
|
|||||||
Common stock, $.10 par value, 20,000,000 shares authorized,
9,994,052 issued and 9,923,657 outstanding at March 31, 2009 and 10,218,702 issued and 10,192,032 outstanding at December 31, 2008 |
979 | 981 | |||||||
Additional paid-in capital | 111,586 | 111,641 | |||||||
Treasury stock (70,395 and 59,745 shares repurchased
as of March 31, 2009 and December 31, 2008, respectively) |
(1,383) | (1,178) | |||||||
Accumulated deficit | (21,864) | (30,199) |
|
||||||
Accumulated other comprehensive income | (12,279) | (11,103) | |||||||
Total stockholders equity | 77,039 | 70,142 | |||||||
Total liabilities and stockholders equity | $ | 146,579 | $ | 141,167 |